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Adq-Backed Abu Dhabi’s Ad Ports Raises $1B Before Public Market Debut

Feb 07, 2022•over 3 years ago

Amount Raised

$1 Billion

Description

Abu Dhabi’s AD Ports Group, owned by sovereign wealth fund ADQ, said it raised 4 billion dirhams ($1.1 billion) in proceeds from its primary issuance and would list its shares on the bourse on Tuesday.

Company Information

Company

Adq Backed Ad Ports

About

AD Ports Group, which operates ports, logistics and industrial zones, said the funds raised would be used to grow organically and via acquisitions, as the company plans to expand both locally and internationally. AD Ports Group’s shares are set to trade on Tuesday on the Abu Dhabi Securities Exchange under the ticker symbol ADPORTS, the company said in a statement.